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Karnataka Bank Plunges 3%; BSE BANKEX Index Down 0.1%
Thu, 24 Oct 9:48

Karnataka Bank Plunges 3%; BSE BANKEX Index Down 0.1%Image source: ipopba/www.istockphoto.com

Karnataka Bank share price has plunged 3% and is presently trading at Rs 207.3.

Meanwhile, the BSE BANKEX index is at 58,142.6 (down 0.1%).

Among the top losers in the BSE BANKEX index today are Federal Bank (down 0.8%) and ICICI Bank (down 0.8%).

AU SMALL FINANCE BANK (up 2.6%) and HDFC Bank (up 0.9%) are among the top gainers today.

Over the last one year, Karnataka Bank has moved down from Rs 224.0 to Rs 207.3, registering a loss of Rs 16.7 (down 7.5%).

On the other hand, the BSE BANKEX index has moved up from 48,512.5 to 58,142.6, registering a gain of 19.9% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 42.0%), ICICI Bank (up 33.6%) and Federal Bank (up 30.4%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 79,844.3 (down 0.3%).

The top losers among the BSE Sensex today are Hindustan Unilever (down 5.3%) and Nestle (down 1.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,362.2 (down 0.3%). Hindustan Unilever and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 79,844.3, registering a gain of 15,272.4 points (up 23.7%).

Karnataka Bank Financial Update...

Karnataka Bank net profit grew 1.8% YoY to Rs 3,362 million for the quarter ended September 2024, compared to a profit of Rs 3,302 million a year ago. Net sales rose 10.2% to Rs 22,341 million during the period as against Rs 20,266 million in July-September 2023.

For the year ended March 2024, Karnataka Bank reported 10.8% increase in net profit to Rs 13,066 million compared to net profit of Rs 11,797 million during FY23. Revenue of the company grew 14.9% to Rs 82,985 million during FY24.

The current Price to earnings ratio of Karnataka Bank, based on rolling 12 month earnings, stands at 5.8.


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